The Economic and Financial Crimes Commission, EFCC on August 3, 2012 arraigned Jonathan Udeagbala and his company, Lynq Communications Limited before Justice B. O Oluwayemi of the Lagos High court, Igbosere on a four-count charge bordering on stealing, obtaining by false pretence and issuing dud cheques.
One of the charges read: “that you, Jonathan Udeagbala and Lynq communications Ltd, between September, 2009 and September, 2010 at Lagos within the Lagos Judicial Division, with intent to defraud, stole by fraudulently converting to your own use, the aggregate sum of N106, 250,000 (one hundred and six million, two hundred and fifty thousand naira) properties of Victory Electronics Company Limited and Fakwe Investments Limited”.
When the two charges were read to Udeagbala and his company, he pleaded not guilty to them.
F.C Akin, counsel to the accused persons, prayed the court to grant him bail on liberal terms. He claimed that his client had a subsisting court order restraining the EFCC from detaining him. Prosecution counsel, Rotimi Oyedepo urged the court not to grant bail to the accused person on the grounds that he failed to respond to the invitation extended to him on June 20, 2012, to appear at the EFCC on July 4th, 2012 until he was arrested.
In her ruling, Justice Oluwayemi rejected the bail application of the accused person and ordered that he be remanded in Ikoyi prison.
The case has been adjourned till August 13th, 2012 for trial.